Tag Archives: CNBC

Artistic Stitch, an 18-year-old Glendale business, is close to shutting its doors for good in 2014 because it ran into some financial hardships. Owner Sal Loretta could see Artistic Stitch going downhill, so he decided to seek help from a man known for saving dying businesses, Marcus Lemonis.

“It’s tough when the banks are tight on their loans, even when business is good,” Loretta said. “I [weighed] my options and decided to see if Marcus could help me amend my business with his expertise.”

Photo courtesy of CNBC

Lemonis, a serial entrepreneur and host of the CNBC TV show “The Profit,” decided to come down to see whether his expertise would be able to help the business.

It won’t be an easy feat as Loretta racked up $1.5 million in debt.

This debt came about as a product of Artistic Stitch’s recent move to its current location.

Three years ago Loretta decided to expand his business. He moved his then-small business of custom embroidery and sign-making to a massive 28,000-square-foot warehouse, located at 79-08 Cooper Ave., where he added some new business ideas.

To fill up the space of the warehouse, Loretta added a sports complex and pizzeria. Since then, with the debt from business loans and other expenses, Loretta has been in the red with no relief in sight.

On this Tuesday’s episode of “The Profit,” on CNBC at 10 p.m., find out whether Lemonis was able to help Artistic Stitch become a viable business again.

A cannibalistic city cop from Forest Hills has been arrested by the FBI after the agency foiled an alleged plan he cooked up to kidnap and eat at least 100 women, according to a criminal complaint. Gilberto Valle, 28, a six-year NYPD veteran who works in Manhattan, had plotted to “kidnap, rape, torture, kill, cook and eat body parts of a number of women,” said the FBI, which seized the cop’s home computer containing e-mails and instant messages to a fellow conspirator. Read more: Queens Courier

A deranged nanny stabbed to death a media executive’s two young kids inside a posh upper West Side apartment Thursday— and then slit her throat in a botched suicide attempt, police said. The children’s mother, Marina Krim, walked into her W. 75th St. apartment about 5:25 p.m. and found a scene of unimaginable horror: her 6-year-old daughter and 2-year-old son lying motionless in a blood-soaked bathtub. Each had multiple stab wounds.Read more: Daily News

Police arrested and charged a man Thursday with lending weapons to the suspect who allegedly killed a Nassau County police officer and another bystander on the Cross Island Parkway in Queens Tuesday. Authorities say Gerald Williams, 27, loaned a car containing a TEC 9 semi-automatic firearm and a Ruger 9mm semi-automatic pistol to Darrell Fuller on Tuesday. Read more: NY1

Music school administrator on life-support after brutal beatdown

A beloved music school administrator was brutally beaten by a stick-wielding thug while out for his usual midnight stroll, authorities said today. Lou Rispoli, 62, a longtime Sunnyside resident who worked in the West Village, is on life support in hospice care after an unknown brute pummeled him early Saturday. Read more: NY Post

Queens D.A. announces indictments in nationwide sports betting ring

25 people have been indicted in the nationwide sports betting ring that had tentacles in several Las Vegas casinos, where NYPD Inspector Brian O’Neil says operatives influenced legal betting to increase payouts. Read more: CBS New York

Black, Hispanic LGBTs more fearful than straights in stop & frisks

Black and Hispanic gays and lesbians in Jackson Heights are more likely to be harassed by cops than their straight peers — especially during stop and frisks, a new report claims. The Make the Road New York report, released Tuesday, also alleges that transgender women are particularly vulnerable to being arrested and charged with prostitution — often without cause. Read more: Daily News